Markets have opened lower in trades today tracking weak global cues. The Sensex has opened lower by 54 points to open at 16,865 and the 50-share Nifty has opened lower by 16 points at 5,112.
HCL Technologies, India’s fourth-largest software services exporter, reported a 29% rise in quarterly net profit, just shy of expectations, after winning more outsourcing orders amid the global economic uncertainty. The stock reacted positively and jumped 5.3% to Rs 507 in the opening deals post this development.
Jindal Steel is the top loser among the Sensex stocks. The stock has opened lower by 2.4% at Rs 405 after it called off its showcase $2.1-billion Bolivian venture, Jindal Steel & Power Ltd (JSPL) seems to be caught in a major legal tangle with the country’s government.